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Intel (INTC) Q4 2023 earnings results beat revenue and EPS expectations

Intel shareholders will be happy to see the company's revenue and earnings figures from the latest quarter.

Donovan Erskine

January 25, 2024 1:47 PM

Intel

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Intel (INTC) has released its earnings results for Q4 2023, giving us a clear sense of how the tech company performed over the final quarter of the financial year. It’s mostly good news for shareholders, as Intel reported a beat on both earnings-per-share and revenue.

The specific figures can be found in Intel’s Q4 2023 earnings report. The company’s $15.41 billion in revenue beat the expectation of $15.2 billion. As for earnings-per-share, Intel posted $0.54 against a $0.45/share expectation.

“We delivered strong Q4 results, surpassing expectations for the fourth consecutive quarter with revenue at the higher end of our guidance,” said Pat Gelsinger, Intel CEO. “The quarter capped a year of tremendous progress on Intel's transformation, where we consistently drove execution and accelerated innovation, resulting in strong customer momentum for our products. In 2024, we remain relentlessly focused on achieving process and product leadership, continuing to build our external foundry business and at-scale global manufacturing, and executing our mission to bring AI everywhere as we drive long-term value for stakeholders.”

Despite the positive earnings results, Intel (INTC) stock took a dive in after-hours trading. This was due to some low revenue guidance for the upcoming quarter. After ending the day at $49.55/share, it dropped as low as $46.15.

Intel is among several major companies that shared its earnings report for the latest quarter this week. For more financial news, Shacknews has you taken care of.

Donovan Erskine

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_